Can I retire at age 66 with 1,340,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $1,340,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$110,656$109,670$108,709$107,770$106,853$103,766
2 years$54,780$53,760$52,771$51,813$50,883$47,796
3 years$36,157$35,133$34,146$33,197$32,282$29,294
4 years$26,848$25,826$24,850$23,916$23,024$20,157
5 years$21,263$20,248$19,285$18,370$17,502$14,764
6 years$17,542$16,534$15,585$14,691$13,849$11,242
7 years$14,885$13,885$12,951$12,078$11,263$8,787
8 years$12,893$11,902$10,983$10,132$9,344$6,998
9 years$11,344$10,363$9,460$8,630$7,869$5,651
10 years$10,106$9,135$8,248$7,439$6,705$4,611
11 years$9,093$8,132$7,261$6,474$5,766$3,794
12 years$8,250$7,299$6,444$5,679$4,997$3,142
13 years$7,538$6,596$5,757$5,014$4,357$2,615
14 years$6,927$5,996$5,173$4,451$3,820$2,186
15 years$6,399$5,477$4,670$3,969$3,363$1,834
16 years$5,937$5,025$4,234$3,554$2,972$1,543
17 years$5,529$4,628$3,853$3,193$2,635$1,301
18 years$5,168$4,276$3,517$2,878$2,343$1,099
19 years$4,845$3,963$3,220$2,600$2,089$930
20 years$4,554$3,683$2,955$2,355$1,866$788
21 years$4,292$3,430$2,718$2,137$1,670$669
22 years$4,053$3,202$2,505$1,943$1,496$568
23 years$3,836$2,995$2,313$1,770$1,343$483
24 years$3,637$2,806$2,139$1,614$1,207$411
25 years$3,455$2,633$1,981$1,474$1,086$350
26 years$3,286$2,475$1,838$1,348$979$298
27 years$3,131$2,329$1,706$1,234$882$254
28 years$2,987$2,195$1,586$1,130$796$216
29 years$2,853$2,071$1,476$1,037$719$184
30 years$2,728$1,955$1,375$951$650$157
31 years$2,611$1,849$1,282$874$587$134
32 years$2,502$1,749$1,196$803$531$114
33 years$2,400$1,656$1,117$738$481$98
34 years$2,304$1,570$1,043$679$435$83
35 years$2,213$1,489$976$625$394$71
36 years$2,128$1,413$913$576$357$61
37 years$2,048$1,342$854$531$324$52
38 years$1,972$1,276$800$489$294$44
39 years$1,900$1,213$749$451$266$38
40 years$1,832$1,154$702$416$241$32
41 years$1,767$1,099$659$384$219$27
42 years$1,706$1,046$618$354$199$23
43 years$1,648$997$580$327$180$20
44 years$1,592$950$544$302$164$17
45 years$1,539$906$511$279$149$15
46 years$1,489$864$480$258$135$12
47 years$1,441$825$451$238$123$11
48 years$1,394$788$424$220$111$9
49 years$1,350$752$398$203$101$8
50 years$1,308$718$374$188$92$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 66 starting with $1,340,000, adding $5,974 every year, while hoping to spend $25,127 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 61/29/10 Blend
65$1,340,000$1,340,000$1,340,000$1,340,000
66$1,482,842$1,411,822$1,391,052$1,569,560
67$1,607,357$1,454,267$1,410,917$1,670,851
68$1,743,730$1,497,949$1,430,606$1,777,915
69$1,893,145$1,542,902$1,450,086$1,894,112
70$2,056,904$1,589,163$1,469,322$2,020,327
71$2,236,442$1,636,766$1,488,278$2,157,530
72$2,433,340$1,685,748$1,506,916$2,306,792
73$2,649,338$1,736,146$1,525,195$2,469,289
74$2,886,353$1,788,000$1,543,071$2,646,318
75$3,146,498$1,841,349$1,560,501$2,839,307
76$3,432,097$1,896,232$1,577,435$3,049,825
77$3,745,715$1,952,691$1,593,822$3,279,603
78$4,090,174$2,010,768$1,609,611$3,530,546
79$4,468,582$2,070,507$1,624,744$3,804,751
80$4,884,366$2,131,951$1,639,162$4,104,529
81$5,341,301$2,195,145$1,652,802$4,432,424
82$5,843,542$2,260,136$1,665,600$4,791,238
83$6,395,671$2,326,970$1,677,485$5,184,057
84$7,002,734$2,395,696$1,688,385$5,614,281
85$7,670,290$2,466,363$1,698,224$6,085,653
86$8,404,465$2,539,020$1,706,920$6,602,300
87$9,212,009$2,613,720$1,714,390$7,168,764
88$10,100,355$2,690,514$1,720,543$7,790,051
89$11,077,698$2,769,456$1,725,288$8,471,675
90$12,153,064$2,850,599$1,728,526$9,219,709
91$13,336,398$2,934,000$1,730,153$10,040,847
92$14,638,659$3,019,715$1,730,062$10,942,460
93$16,071,923$3,107,802$1,728,139$11,932,673
94$17,649,493$3,198,318$1,724,266$13,020,433
95$19,386,030$3,291,324$1,718,318$14,215,602
96$21,297,687$3,386,881$1,710,163$15,529,042
97$23,402,262$3,485,050$1,699,665$16,972,724
98$25,719,369$3,585,893$1,686,680$18,559,836
99$28,270,618$3,689,476$1,671,057$20,304,908
100$31,079,823$3,795,861$1,652,639$22,223,953